Adds details on results in paragraph 3, context on IPO and share performance in paragraphs 4-6

Nov 25 (Reuters) - Spanish gambling company Cirsa CIRSA.MC said on Tuesday its net result swung to a profit in the third quarter, largely driven by revenue growth in its online betting business.

Cirsa's net profit stood at 15.2 million euros ($17.5 million) in the quarter, compared to a loss of 10.3 million euros a year ago.

The Barcelona-based company said all its business units reported higher revenues than last year, and raised its full-year core earnings forecast to between 750 million and 753 million euros, instead of the previously guided 740-750 million.

Cirsa was listed in July by private equity giant Blackstone BX.N in an initial public offering that valued it at 2.52 billion euros. Blackstone kept a 78% stake in Cirsa.

However, shares in the company, which operates casinos, gambling platforms and slot machines in Spain, Latin America, Italy, Morocco and Portugal, have fallen around 16% since their listing.

They have been weighed down by a read-across from the other sector players, Britain's gambling tax hikes and "customer friendly sporting results", although in reality these factors have a minimal impact on Cirsa, analysts from Deutsche Bank said ahead of the results.

($1 = 0.8678 euros)

(Reporting by Javi West Larrañaga in Gdansk, editing by Milla Nissi-Prussak)

((Javier.West@thomsonreuters.com; +34 918 35 61 12;))